[Natfinwellness] Debt Letter

Fri Oct 14 16:49:35 EDT 2016

Dear Flor,

We are a Banner school and pull data from the aggregate fund screen
RHIAFSH.  This must be reconciled with NSLDS because a student may have
made payments on the loans after we disbursed.  This screen also gives us
easy access to see which students have obtained an institutional loan or
school certified private loan while in residence.  We also look at NSLDS to
see federal pre-medical school debt.  Our debt letter provides information
about pre-medical school debt, medical school debt and total educational
debt.    It is a very manual process, but we have a small population
(<800).  You might want to check alternatives with your IT folks.

Good luck, this is one of the best ways to keep students up to date with
their investment in education.

Best,

Meredith

I

Meredith Schor, MA, MBA
Director, Financial Aid

The George Washington University
School of Medicine and Health Sciences
2300 I St. NW, Suite 106
Washington, DC 20052
202.994.2960
fax 202.994.9488
mschor1 at gwu.edu <mschor1 at law.gwu.edu>

*You must include your GW ID with all correspondence.*

*All students:*

Now is the time to complete the 2017-2018 Free Application for Federal
Student Aid <http://fafsa.ed.gov>.
Directions for applying for aid for the 2017-2018 academic year will be
updated by early January, on our website.

---You can still apply for aid for the 2016-2017 academic year---

*Important websites:*

www.FAFSA.ed.gov <http://www.fafsa.ed.gov/>
www.studentloans.gov
www.nslds.ed.gov
https://smhs.gwu.edu/fin-aid/
GWEB <https://banweb.gwu.edu/PRODCartridge/twbkwbis.P_WWWLogin>
www.aamc.org/FIRST

On Fri, Oct 14, 2016 at 4:39 PM, Crystal Baker <Crystal.Baker at indstate.edu>
wrote:

> Thanks for bringing this up Flor. My school just uses the info that comes
> in on the FAFSA (since our students tend to have debt from prior schools).
> To my knowledge there is no aggregate report from NSLDS that can be
> reformatted into a flat file to upload into our database. We researched
> that method when we first implemented our debt letter (per Indiana law).
>
>
>
> I guess now we have to get creative, as the 1718 ISIR files we receive
> won’t have debt from the 16/17 academic year.
>
>
>
> Good luck to you…!
>
>
>
> Crystal Baker
>
> Director, Student Financial Aid
>
> Indiana State University
>
> www.indstate.edu/finaid
>
>
>
>
>
>
>
> *From:* Natfinwellness [mailto:natfinwellness-bounces at lists.osu.edu] *On
> Behalf Of *Carabez, Flor
> *Sent:* Thursday, October 13, 2016 1:36 PM
> *To:* National Financial Wellness Listserv <natfinwellness at lists.osu.edu>
> *Subject:* Re: [Natfinwellness] Debt Letter
>
>
>
> Is your school individually retrieving student information from NSLDS, or
> are they somehow pulling mass files. If they are pulling mass files, which
> file are they pulling?
>
>
>
>
>
> Flor E. Carabez
>
>
>
> Financial Education Consultant & Financial Literacy Specialist
>
> Columbia College Chicago
>
>
>
>
>
>
>
> *From:* Natfinwellness [mailto:natfinwellness-bounces+fcarabez=colum.edu@
> lists.osu.edu <natfinwellness-bounces+fcarabez=colum.edu at lists.osu.edu>] *On
> Behalf Of *Hertling, Leo J
> *Sent:* Thursday, October 13, 2016 12:22 PM
> *To:* National Financial Wellness Listserv
> *Subject:* Re: [Natfinwellness] Debt Letter
>
>
>
>
>
> Aggregate amounts borrowed are reported on the letters sent out.  We
> report on anything that we have in our systems as well as anything that we
> can see that the student has borrowed that is listed on NSLDs.
>
>
>
> We then attempt to project how much the student will borrow if they
> continue at their current rate and take a guestimate at what their payment
> may be given the known interest rates.  With private loans, this is a
> little murkier as interest rates are not regularly disclosed to us on an
> individual basis.
>
>
>
> This is something that is mandated by Indiana law.  Any school that
> receives assistance from the state must provide these letters to their
> students.
>
>
>
> I don’t see that the move to PPY will affect the letters any as the
> information being reported to the student is not related to data on the
> FAFSA.
>
>
>
> Hope this helps,
>
>
>
> Leo
>
>
>
> Leo Hertling
>
> Associate Director
>
> Division of Financial Aid
>
> Purdue University
>
> 765-494-5074 (V)
>
> 765-496-3918 (F)
>
> hertling at purdue.edu
>
>
>
> *[image: Description: Description: p_web]*Boiler Up!
>
>
>
>
>
>
>
>
>
>
>
>
>
> *From:* Natfinwellness [mailto:natfinwellness-bounces at lists.osu.edu
> <natfinwellness-bounces at lists.osu.edu>] *On Behalf Of *Carabez, Flor
> *Sent:* Wednesday, October 12, 2016 3:57 PM
> *To:* National Financial Wellness Listserv <natfinwellness at lists.osu.edu>
> *Subject:* Re: [Natfinwellness] Debt Letter
>
>
>
> And you're able to pull the aggregate amounts for all the student loans?
>
>
>
> Flor E. Carabez
>
> *Consultant, Outreach and Education*
>
> *Columbia College Chicago: Student Financial Services*
>
> 600 S. Michigan Ave. Ste 303
>
> Chicago, IL 60605
>
>
>
> Email: fcarabez at colum.edu
>
>
>
>
>
>
> ------------------------------
>
> *From:* Natfinwellness <natfinwellness-bounces+
> fcarabez=colum.edu at lists.osu.edu> on behalf of Schuman, Philip Andrew <
> phaschum at iu.edu>
> *Sent:* Wednesday, October 12, 2016 2:44 PM
> *To:* National Financial Wellness Listserv
> *Subject:* Re: [Natfinwellness] Debt Letter
>
>
>
> Flor,
>
>
>
> We send out debt letters to our students and we’re not seeing changes as a
> result of prior-prior.  The majority of our campuses send them out after
> the spring disbursement.
>
>
>
> Phil
>
>
>
>
>
> [image: pastedGraphic.png]
>
>
>
> Phil Schuman
>
> *Director of Financial Literacy*
>
> 504 N. Fess Ave.,
>
> Bloomington, IN 47408
>
> 317.274.7430 / phaschum at iu.edu
>
>
>
>
>
>
>
> *From: *Natfinwellness <natfinwellness-bounces at lists.osu.edu> on behalf
> of "Carabez, Flor" <fcarabez at colum.edu>
> *Reply-To: *National Financial Wellness Listserv <
> natfinwellness at lists.osu.edu>
> *Date: *Wednesday, October 12, 2016 at 3:07 PM
> *To: *National Financial Wellness Listserv <natfinwellness at lists.osu.edu>
> *Subject: *[Natfinwellness] Debt Letter
>
>
>
> Hello everyone,
>
>
>
> I hope this message finds you all well. Out of curiosity, do any of your
> respective schools send out letters to the student body notifying them of
> their loan debt up-to-date? If so, how will this continue with the
> prior-prior year efforts with FAFSA?
>
>
>
> Our school wants to adopt this action piece as well, however, we are
> struggling with the prior-prior year efforts, since this will not allow for
> us to generate aggregate up-to-date info for the whole student body.
>
>
>
> Please email me for clarity or if any of you are already moving forward
> with these projects.
>
>
>
> Thank you in advance,
>
>
>
> Flor E. Carabez
>
> *Consultant, Outreach and Education*
>
> *Columbia College Chicago: Student Financial Services*
>
> 600 S. Michigan Ave. Ste 303
>
> Chicago, IL 60605
>
>
>
> Email: fcarabez at colum.edu
>
>
>
>
>
> _______________________________________________
> Natfinwellness mailing list
> Natfinwellness at lists.osu.edu
> https://lists.osu.edu/mailman/listinfo/natfinwellness
>
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.osu.edu/pipermail/natfinwellness/attachments/20161014/6d1ad38a/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.png
Type: image/png
Size: 25386 bytes
Desc: not available
URL: <http://lists.osu.edu/pipermail/natfinwellness/attachments/20161014/6d1ad38a/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 10252 bytes
Desc: not available
URL: <http://lists.osu.edu/pipermail/natfinwellness/attachments/20161014/6d1ad38a/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 1607 bytes
Desc: not available
URL: <http://lists.osu.edu/pipermail/natfinwellness/attachments/20161014/6d1ad38a/attachment-0001.jpg>